Creation of HuF

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JaY

JaY (Querist)
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18 June 2010 how to form the new huf
from beginning

CA Sanat Pyne

CA Sanat Pyne (Expert)
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18 June 2010 to have capital in huf account we should take following steps

we should have opened a bank account first (not must) but it is advisable so that we can have transaction by cheques .

Apply for permanent account number (pan)

Formation of capital of huf,Transfer money by gifts etc to HUF capital keeping in view the clubbing provisions and tax on gifts under Income tax act,Remember there is no Tax on gifts in kind though they may attract clubbing provisions in some cases.

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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18 June 2010 You can visit this site also for reference.

https://www.simpletaxindia.org/2008/05/how-one-can-create-hufhindu-undivided.html

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